Examlex
Which of the following provides international guidelines for compliance management?
Probable Loss
A loss in financial terms that is likely to occur based on current information and judgment.
Reasonably Possible
A term used in accounting to describe a condition that could occur, affecting financial decisions or disclosures, based on current knowledge and events.
Note Disclosure
Additional information provided in a company's financial statements, explaining the numbers presented in the statements for clarity and completeness.
Contingent Liability
A potential financial obligation that may arise in the future, depending on the outcome of a certain event.
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